Yanis Varoufakis ..... good guy ..... or not.

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nixy
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Yanis Varoufakis ..... good guy ..... or not.

http://yanisvaroufakis.eu/2013/04/22/bitcoin-and-the-dangerous-fantasy-of-apolitical-money/

YV said.....

......there can be no de-politicised currency capable of ‘powering’ an advanced, industrial society......

But what he doesn't say is, "should 'money' be created from nothing, to be repaid (coerced) by taxpayers under a threat of violence?"   In other words definitions of freedom and contract have effectively been rewritten.

nixy
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Looks like he is very

Looks like he is very mistaken here, if he thinks we could have the equivalent of BC printing presses ....... and if he's wrong here.... what else has he misunderstood?

??

Quote:

VF said.....

Put differently, take gold sovereigns as an example: By their (metallic) nature they constitute private and excludable media of exchange, in the sense that if I use one to pay Mary for a car that she is selling, I shall end up with one less such unit in my wallet. The great challenge of creating a non-physical, wholly digital, currency is the pressing question: If a currency unit is a string of zeros and ones on my hard disk, who can stop me from taking that string, copying and pasting it as often as I want and become infinitely ‘moneyed’? For if I can do that, then it is as if all of us have a printing press in their living room, in which case we would have the makings of instant hyperinflation.

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